All Forum Posts by: Michelle Garcia

I want to get a better understanding on how mortgage rates are calculated. I currently have two lenders trying to convince me to choose them as my lender with 5% down. One lender is telling me they can give me a 3.5% rate if I go with them and the other is telling me that he doesn't want to lock me in a rate because there is a chance the rate will go down (however, estimating a 3.75% rate)

My question is, can a bank offer whatever number they like and lock in the rate or does it really depend on the market. I have a stellar credit score and I am financially capable of punching the property I am under contract. 

Should I wait to see if the rate can go down or lock in the rate?

I want to make sure I go with the right offer. Thoughts?

Hi all, 

I am curious to know what the BP community thinks about opening a separate bank account to collect tenant rent. I currently don't want to start an LLC yet since I am in the beginning stages (haven't purchased a property yet). However, I plan to house hack and I am curious to know what are the best strategies in collecting rent in the meantime and once I own a few rental properties.

Thank you in advance :) 

@Gaetano Ciambriello thank you!

Hi y’all ,

I was listening to a bigger pockets podcast episode and they mentioned Awning a tela estate investment company. Has anyone here worked with them? And if so, what are your thoughts and experience?

Hola!

I am curious to you BP members thoughts on Bridgeport, CT. I googled the area and it seems like it’s high on crime and not as safe. What are your thoughts about this area and what tools do you use to analyze the location?

Greetings,

I am curious of the following regarding LLC:

1. When is the best time to create an LLC for your investments?

2. Thoughts on having multiple properties under one LLC.

3. Can I sell my first purchase to my LLC once it's converted to a rental property?

Greetings!

I am excited to jump into REI! However, I wanted to know how much do I need to know about being a landlord before jumping into a multi-family property.

1. Best way to introduce myself to the tenants?

2. Are there free landlord contracts I can use for my tenants?

3. What’s the best program and bank account type for collecting rent?

Thank you all in advance!

Greetings! :)

In regards to estimating ARV, how do you calculate the adjustment amount to compare properties. For example if a comp has one more room, bathroom, garage space how do I know how much to add or subtract from the sale price?

@Stanley Ezeadi how to you get the seller to pay closing costs?

I am debating if I should buy an investment property in the next three months or wait a little longer especially since it’s a sellers market. I am afraid that I will buy a property that is overpriced and not be able to cash out. I also can’t afford an all cash deal, which, I believe, is where the best deals are.

What are your thoughts on the market and do you recommend waiting to purchase property?